NASDAQ$AHCO
AdaptHealth Corp. · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
AdaptHealth's Q4 2023 performance was driven by strong growth in sleep and respiratory segments, resulting in increased revenue and adjusted EBITDA.
AdaptHealth Corp. reported a 10.0% increase in net revenue to $858.2 million and a significant rise in adjusted EBITDA to $204.6 million for Q4 2023. The company experienced a net loss of $254.5 million, largely due to a goodwill write-down. Free cash flow improved to $66.6 million.
- Net revenue increased by 10.0% to $858.2 million, driven by non-acquired growth of 9.7%.
- Adjusted EBITDA increased by 40.2% to $204.6 million.
- Net loss attributable to AdaptHealth Corp. was $254.5 million, impacted by a $318.9 million pre-tax goodwill write-down.
- Free cash flow was $66.6 million, compared to $(46.0) million.
Headline financials
Revenue & EPS history
AdaptHealth · Revenue · Quarterly
$858M
Forward guidance
The Company is providing its initial financial guidance for fiscal year 2024, as follows: Net revenue of $3.25 billion to $3.35 billion; Adjusted EBITDA of $650 million to $710 million; Free cash flow of $150 million to $180 million
Tailwinds
- Net revenue of $3.25 billion to $3.35 billion
- Adjusted EBITDA of $650 million to $710 million
- Free cash flow of $150 million to $180 million
Headwinds
- Guidance for fiscal year 2024 does not include any contributions from acquisitions that have not yet closed
- Guidance assumes that the 75/25 blended Medicare reimbursement rate adjustment in non-rural, non-competitive bid areas is not extended.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.6%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+1.6%
Avg return
30 days after
52%
16 / 31 earnings
Positive
+34.6%
Q4 2023
Best reaction
-27.9%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -10.0% | -13.4% | -25.6% | |
| Q4 2025 | -14.2% | -11.1% | +10.9% | |
| Q3 2025 | +17.2% | +4.5% | +3.2% | |
| Q1 2025 | +1.7% | -1.4% | +3.7% | |
| Q4 2024 | +24.4% | +33.1% | +24.4% | |
| Q3 2024 | +0.3% | -0.6% | -4.2% | |
| Q2 2024 | -17.2% | -14.1% | +4.6% | |
| Q1 2024 | -8.6% | -8.8% | +4.9% | |
| Q4 2023 | +34.6% | +37.9% | +50.9% | |
| Q3 2023 | -23.1% | -18.6% | -5.6% | |
| Q2 2023 | +11.1% | +4.4% | -19.8% | |
| Q1 2023 | -8.4% | -12.2% | -13.8% | |
| Q4 2022 | -27.9% | -27.9% | -40.6% | |
| Q3 2022 | -1.6% | +8.4% | +4.5% | |
| Q2 2022 | -8.9% | -8.2% | -25.7% | |
| Q1 2022 | +23.7% | +42.2% | +53.6% | |
| Q4 2021 | +4.1% | +2.3% | +2.8% | |
| Q3 2021 | -5.4% | -7.2% | -24.1% | |
| Q2 2021 | +16.4% | +13.4% | +12.3% | |
| Q1 2021 | -8.5% | -14.9% | -10.4% | |
| Q4 2020 | +2.1% | +12.4% | +21.7% | |
| Q3 2020 | +2.6% | +0.6% | +19.5% | |
| Q2 2020 | +13.9% | +18.0% | +7.0% | |
| Q1 2020 | +1.6% | +5.8% | +5.5% | |
| Q4 2019 | +1.8% | +1.4% | -7.7% | |
| Q3 2019 | -4.1% | -4.9% | -3.3% | |
| Q2 2019 | +0.0% | +0.0% | -0.6% | |
| Q1 2019 | +0.0% | +0.0% | +0.3% | |
| Q4 2018 | +0.6% | +0.7% | +1.3% | |
| Q3 2018 | +0.3% | +0.1% | +0.4% | |
| Q2 2018 | +0.0% | +0.3% | +0.1% | |
| Q1 2018 | — | — | — |
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